RBL Bank has been forming a new impulse wave since 20 Jan 2025.
The stock completed W3 as an extended Wave @ about 4.272 X of W1. W4 was a flat structure which got completed on 28 Aug 2025.
Inspite of a strong W3, the stock went in for another extension, i.e. W5 following news of acquisition by Emirates NBD for a 60% majority stake.
It now seems the stock has completed W5 @ 78.6% of W3 and has entered correction phase.
Internal wave counts match.
Investors / traders may book profit and avoid taking fresh positions on the stock.
ChartTheWave |
t.me/chartthewave
This channel is a common forum for "Elliott Wave Principle" enthusiasts, learners and practitioners. We aim to build a team of traders who practice EWP for common benefit; co-learn, teach, share, validate and benefit.
t.me/chartthewave
This channel is a common forum for "Elliott Wave Principle" enthusiasts, learners and practitioners. We aim to build a team of traders who practice EWP for common benefit; co-learn, teach, share, validate and benefit.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
ChartTheWave |
t.me/chartthewave
This channel is a common forum for "Elliott Wave Principle" enthusiasts, learners and practitioners. We aim to build a team of traders who practice EWP for common benefit; co-learn, teach, share, validate and benefit.
t.me/chartthewave
This channel is a common forum for "Elliott Wave Principle" enthusiasts, learners and practitioners. We aim to build a team of traders who practice EWP for common benefit; co-learn, teach, share, validate and benefit.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.